Market Overview:
The global crop insurance market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for food security and risk management solutions across the globe. The crop yield insurance segment is expected to account for the largest share of the global crop insurance market in 2018. This segment is projected to grow at a CAGR of X.X% during the forecast period. The growth of this segment can be attributed to its ability to provide coverage against loss in yield caused by natural disasters or other unforeseen events. In terms of application, MPCI is expected to account for the largest share of the global crop insurance market in 2018.
Product Definition:
Crop insurance is a type of insurance that indemnifies farmers against losses of their crops. The premiums are paid by the farmers, and the program is operated by the federal government. Crop insurance is important because it helps protect farmers from risks that can cause them to lose money on their crops.
Crop Yield Insurance:
Crop yield insurance is a form of crop insurance that helps farmers in protecting their income against risks associated with variations in agricultural yields. It also helps them to manage the economic uncertainty created by volatile prices of crops. The primary function of yield insurance is to protect the revenue stream from price fluctuations and aid smooth profitability over an annual or five-yearly basis.
Crop Price Insurance:
Crop price insurance is a form of crop insurance that helps farmers against the risk of low prices or poor weather conditions. It also helps in providing protection against high prices and adverse weather conditions. The primary function of crop price insurance is to help the farmers meet their financial requirements during critical times, such as those caused by natural disasters, disease outbreaks, geopolitical conflicts or any other external factors which are beyond the control of an individual farm owner.
Application Insights:
The Market for Global crop insurance by application is segmented into MPCI, Crop Hail and Other Applications. The MPCI segment accounted for the largest market share in 2017 and is anticipated to maintain its dominance over the forecast period. This can be attributed to a large number of farmers having taken out crop insurance policies since 2014 owing to favorable government regulations that have made it affordable and offered various benefits such as cashless payments, zero premium cost, high claim settlement rate etc.
Crop hail was the second-largest segment in 2017 due to increasing awareness among farmers about risk management practices coupled with an increase in investment by private players for developing advanced products catering to specific needs of farmers across all regions globally. For instance, In April 2018 NFU Mutual Insurance Company Ltd.
Regional Analysis:
Asia Pacific dominated the global crop insurance market in terms of both volume and revenue. The region is expected to witness significant growth over the forecast period owing to increasing awareness among farmers about various insurance policies, availability of affordable coverage, and favorable government initiatives.
The Asia Pacific was followed by North America which accounted for a share of 24.1% in 2017 due to higher adoption rate of modern agriculture technologies by farmers as compared to other regions. Moreover, presence of key countries such as U.S.
Growth Factors:
- Increasing demand for food due to population growth
- Rising income levels of farmers and consumers
- Government initiatives to promote crop insurance
- Technological advancements in the crop insurance sector
- Growing awareness about the benefits of crop insurance
Scope Of The Report
Report Attributes
Report Details
Report Title
Crop Insurance Market Research Report
By Type
Crop Yield Insurance, Crop Price Insurance, Crop Revenue Insurance
By Application
MPCI, Crop Hail
By Companies
PICC, Zurich, Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, Endurance Specialty, CUNA Mutual, Agriculture Insurance Company of India, Tokio Marine, CGB Diversified Services, Farmers Mutual Hail, Archer Daniels Midland, New India Assurance, ICICI Lombard
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Crop Insurance Market Report Segments:
The global Crop Insurance market is segmented on the basis of:
Types
Crop Yield Insurance, Crop Price Insurance, Crop Revenue Insurance
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
MPCI, Crop Hail
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- PICC
- Zurich
- Chubb
- QBE
- China United Property Insurance
- American Financial Group
- Prudential
- XL Catlin
- Everest Re Group
- Endurance Specialty
- CUNA Mutual
- Agriculture Insurance Company of India
- Tokio Marine
- CGB Diversified Services
- Farmers Mutual Hail
- Archer Daniels Midland
- New India Assurance
- ICICI Lombard
Highlights of The Crop Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Crop Yield Insurance
- Crop Price Insurance
- Crop Revenue Insurance
- By Application:
- MPCI
- Crop Hail
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Crop Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Crop insurance is a type of insurance that helps protect farmers from financial losses caused by bad weather or other natural disasters. Farmers typically buy crop insurance to cover the cost of lost crops, whether due to weather conditions or pests.
Some of the key players operating in the crop insurance market are PICC, Zurich, Chubb, QBE, China United Property Insurance, American Financial Group, Prudential, XL Catlin, Everest Re Group, Endurance Specialty, CUNA Mutual, Agriculture Insurance Company of India, Tokio Marine, CGB Diversified Services, Farmers Mutual Hail, Archer Daniels Midland, New India Assurance, ICICI Lombard.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Crop Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Crop Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Crop Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Crop Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Crop Insurance Market Size & Forecast, 2020-2028
4.5.1 Crop Insurance Market Size and Y-o-Y Growth
4.5.2 Crop Insurance Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Crop Yield Insurance
5.2.2 Crop Price Insurance
5.2.3 Crop Revenue Insurance
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 MPCI
6.2.2 Crop Hail
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Crop Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Crop Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Crop Yield Insurance
9.6.2 Crop Price Insurance
9.6.3 Crop Revenue Insurance
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 MPCI
9.10.2 Crop Hail
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Crop Yield Insurance
10.6.2 Crop Price Insurance
10.6.3 Crop Revenue Insurance
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 MPCI
10.10.2 Crop Hail
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Crop Yield Insurance
11.6.2 Crop Price Insurance
11.6.3 Crop Revenue Insurance
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 MPCI
11.10.2 Crop Hail
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Crop Yield Insurance
12.6.2 Crop Price Insurance
12.6.3 Crop Revenue Insurance
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 MPCI
12.10.2 Crop Hail
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Crop Yield Insurance
13.6.2 Crop Price Insurance
13.6.3 Crop Revenue Insurance
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 MPCI
13.10.2 Crop Hail
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Crop Insurance Market: Competitive Dashboard
14.2 Global Crop Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 PICC
14.3.2 Zurich
14.3.3 Chubb
14.3.4 QBE
14.3.5 China United Property Insurance
14.3.6 American Financial Group
14.3.7 Prudential
14.3.8 XL Catlin
14.3.9 Everest Re Group
14.3.10 Endurance Specialty
14.3.11 CUNA Mutual
14.3.12 Agriculture Insurance Company of India
14.3.13 Tokio Marine
14.3.14 CGB Diversified Services
14.3.15 Farmers Mutual Hail
14.3.16 Archer Daniels Midland
14.3.17 New India Assurance
14.3.18 ICICI Lombard
